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Seller Seeks $8M for Uptown Courtyard Building
Essex Realty Group has listed for sale 905-911 W. Carmen Ave., a 41-unit courtyard building in the North Side’s Uptown neighborhood. It’s listed at $7,752,000 by Essex principal Steve Livaditis and director Matt Feo.
The well-maintained property includes a formal lobby plus a bike room and on-site storage lockers. An opportunity exists for an investor to further improve the property by modernizing all the kitchens and baths and adding in-unit laundry. The floor plans make converting the property’s studios into one-bed units, and one-bed units into two-bed units, very feasible after acquisition, according to Essex.
“As of late, courtyard buildings have been an extremely rare commodity in the marketplace, and we anticipate strong demand for this asset,” explained Livaditis. “A forward-thinking investor has the opportunity to create tremendous value at Carmen by incorporating light renovations and capitalizing on an increased, healthy cash flow.”
- ◦Sale/Acquisition
